South Africa has launched R130 million multinational top firm washing machines firm for both the local and export market.
Trade and Industry Minister Rob Davies said the investment would not only boost the country as an investment destination but also aid in creating much-needed jobs.
The firm is designed to produce 6 to 7 and 5 to 10 kilogramme top loader washing machines for both the local and export market.
It would produce 75 new job opportunities that will manufacture 500 top loaders per shift.
Speaking at the announcement of the investment at Defy’s factory in Jacobs, Durban, Davies said the manufacturing development is a much-needed boost to the local community.
“It is important to note that even though statistics of this investment sound modest in nature, they will go a long way in unlocking job opportunities in the South African economy.
They will also help us sustain our position which has seen us continue increasing foreign direct investment into the country, while the rest of the continent has experienced a contraction,” he said.
The Minister anticipates a significant increase in South African products to the African market, way more than it is at this current stage.